SHARJAH, 1st June, 2016 (WAM) — The Sharjah-Russian Business Forum, being held in Moscow and Saint Petersburg in collaboration with the Chambers of Commerce and Industry of both cities, began on Tuesday at the headquarters of the Chamber of Commerce and Industry of the Russian Federation.

The event is held on the sidelines of a visit by a trade delegation to the Russian Federation from 29th May to 2nd June, 2016, led by the Sharjah Chamber of Commerce and Industry, SCCI.

The visit aims to develop investment, trade and tourism cooperation between the two sides and to advise on the investment advantages that distinguish the UAE, in addition to the value added facilities and incentives made available to investors and businessmen.

Sharjah Chamber organised the trade delegation’s visit to demonstrate the role it plays in serving the local business community, enhancing its activities, and seeking to discover new opportunities for investment that enhance external trade for the emirate and increase the exports of manufacturing and marketing establishments.

The UAE’s trade delegation includes representatives from Sharjah Chamber, Sharjah Investment and Development Authority, Shurooq, the Sharjah Commerce and Tourism Development Authority and a number of private companies and establishments that represent diverse trade and industrial sectors.

The forum, which was attended by a number of Russian ministers and senior officials of the Chamber of Commerce and Industry, CCI, of the Russian Federation, Russian Economic Authorities, began with a key speech from the Vice-President of the CCI, Vladimir Padalko, who praised the Emirate of Sharjah for organising the mission. He stressed that direct meetings between officials and business achieves good results within the parties’ efforts to develop their economic relations.

Padalko drew attention to the Russian interest in investing in the UAE, which grew in 2015 by about 30 percent, as well as the active cooperation between Russian regions and the UAE, where the volume of trade reached more than US$3 billion. He went to say that about 750,000 tourists visit the UAE annually and the Emirate of Sharjah ranked first in terms of Russian companies registered in the country.

The delegation is putting the spot light on the emirate’s wealth of resources and promising conditions for investment, in addition to investment opportunities in the various sectors that will enable Sharjah to cooperate with Russian investors who wish to invest and work on projects that serve those sectors. The business forum includes proposals to be made by companies from Sharjah for their services to market their business activities.